to 
Open Image and Make Icon base (100x100)
Duplicate bkgd
Set to Screen @ 55%
Duplicate bkgd
Move above Screen Layer
Set to Soft Light @ 80%
New Layer
Flood Fill #000E4C
Set to Dodge @ 40%
New Layer
Flood Fill #000E4C
Set to Exculsion @ 50%
New Layer
Flood Fill #FFBBD1
Set to Burn @50%
Merge All Layers
Duplicate bkgd
Set to Soft Light @ 100%
New Layer
Flood Fill #F5F4B7
Set to Burn @ 100%
Sharpen
(Unsharp Mask, Radius- 1.00, Strength- 50, Clipping- 0)
PSP Users
Automatic Saturation Enhancement (Bias- More Colorful, Strength- Strong), (Make Sure the Skintones Present box is Checked)
(PSP7- Effects>Enhance Photo>Automatic Saturation Enhancement)
(PSP8/9- Adjust > Automatic Saturation Enhancement)
PS/Gimp Users
New Layer
Flood Fill #FFF691
Set to Saturation @ 30% (It's Not Exactly The Same as the Result in PSP but It's Really Close)
Add a 1 Pixel Black Border
Merge Layers
(I added a Heart & Text to Mine)
Your Done
